Afflueno

Balance transfer

Definition

Moving existing credit card debt to another card, usually one with a low or 0% introductory APR. A transfer fee, commonly 3% to 5%, usually applies.

Example

Moving $5,000 to a 0% card with a 3% fee costs $150 upfront but can save far more in interest if the balance is paid off during the promotion.

Try the numbers

General educational information, not personal financial advice. See our disclaimer.

Go deeper

AffluenoAfflueno — wealth, made warm@afflueno
Follow
How Startup Founders Can Use Business Credit to Grow FasterHow Startup Founders Can Use Business Credit to Grow FasterNo-Spend Challenges in Plain EnglishNo-Spend Challenges in Plain EnglishWhat Is Business Credit? A Simple ExplanationWhat Is Business Credit? A Simple Explanation5 Ways to Improve Your Business Credit Score5 Ways to Improve Your Business Credit Score